§5B-7-4. Reallocation of volume cap.
(a) The Economic Development Authority shall reallocate volume
cap that has been waived pursuant to this article. The authority
may reallocate the volume cap to the state, state agencies,
counties, municipalities or any other political subdivisions or any
other eligible issuer authorized to issue recovery zone bonds
pursuant to Section 5.04 of Internal Revenue Service Notice
2009-50.

(b) As soon as reasonably possible after the effective date of
this section the authority shall adopt a procedure for the
solicitation and receipt of applications, on a form and in a manner
prescribed by the authority, for eligible issuers seeking
reallocated volume cap.

(c) Within ninety days of receipt of written notice from the
Governor the authority shall reallocate any amount of volume cap
waived by a county pursuant to this article. The authority shall
provide written notice of any reallocation to the entity receiving
the reallocation.